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Westinghouse Statement Regarding Issuance of Conditional Loan Guarantees for New Nuclear Construction

February 16, 2010

The following statement is attributable to Dr. Aris S. Candris, President and CEO of Westinghouse Electric Company.

PITTSBURGH, Feb. 16 /PRNewswire/ — Westinghouse and its consortium team member The Shaw Group (NYSE: SHAW), are under contract to provide two of Westinghouse AP1000(TM) nuclear power plants at Southern’s Vogtle site in Georgia. The consortium is also building four AP1000s(TM) in China and has been selected to provide no less than 12 additional AP1000s elsewhere in the United States.

“Westinghouse and the entire nuclear energy industry congratulate President Obama and his administration for moving forward with this important program. This action is one that will produce many long-term benefits. It will create thousands of direct and indirect jobs, it will further move the United States toward energy independence, and it will increase the amount of non-polluting electricity generated in the United States.”

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY:6502), is the world’s pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world’s first PWR in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world’s operating nuclear plants, including 60 percent of those in the United States.

SOURCE Westinghouse Electric Company


Source: newswire



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